11 manufacturing sector companies report a only merchandise inventory b only finishe 4309564

11) Manufacturing-sector companies report:

A) only merchandise inventory

B) only finished goods inventory

C) direct materials inventory, work-in-process inventory, and finished goods inventory accounts

D) no inventory accounts

12) For a manufacturing company, direct material costs may be included in:

A) direct materials inventory only

B) merchandise inventory only

C) both work-in-process inventory and finished goods inventory

D) direct materials inventory, work-in-process inventory, and finished goods inventory accounts

13) For a manufacturing company, direct labor costs may be included in:

A) direct materials inventory only

B) merchandise inventory only

C) both work-in-process inventory and finished goods inventory

D) direct materials inventory, work-in-process inventory, and finished goods inventory accounts

14) For a manufacturing company, indirect manufacturing costs may be included in:

A) direct materials inventory only

B) merchandise inventory only

C) both work-in-process inventory and finished goods inventory

D) direct materials inventory, work-in-process inventory, and finished goods inventory accounts

15) For a manufacturing-sector company, the cost of factory depreciation is classified as a:

A) direct material cost

B) direct manufacturing labor cost

C) manufacturing overhead cost

D) period cost

16) For a printing company, the cost of paper is classified as a:

A) direct material cost

B) direct manufacturing labor cost

C) manufacturing overhead cost

D) period cost

17) Manufacturing overhead costs in an automobile manufacturing plant most likely include:

A) labor costs of the painting department

B) indirect material costs such as lubricants

C) sales commissions

D) steering wheel costs

18) Manufacturing overhead costs are also referred to as:

A) indirect manufacturing costs

B) prime costs

C) period costs

D) direct material

19) Merchandising companies normally report:

A) only merchandise inventory

B) only finished goods inventory

C) direct materials inventory, work-in-process inventory, and finished goods inventory accounts

D) no inventory accounts

20) Direct materials inventory would normally include:

A) direct materials in stock and awaiting use in the manufacturing process

B) goods partially worked on but not yet fully completed

C) goods fully completed but not yet sold

D) pr